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Ratings i-chain

Insurance Platform and Ecosystem

Insurance platform and ecosystem, which will transform the world insurance industry. A platform which the will automate insurance business, which will run over blockchain to ensure transparency, which will be provided for free. I-chain will ease barriers for new players to tap the insurance market; it will allow insurance companies to significantly cut their costs and get access to new customers; it will allow consumers to get tailored insurance products at lower prices. Insurance companies will be able to develop and sell their own insurance products on the platform, saving a big chunk of operational costs by using the built-in functionality. Micro-businesses will be able to provide tailored services, such as a call centre in a specific language or expertise in certain areas, and many more. Individuals will be able to provide small services as insurance brokers or emergency commissioners, and many others. Global and Independent software developers will be able to offer their application.

Business services
3.2
15 expert ratings
4.6
3.2
2.8
2.8
View rating distribution
PROvision: ICO in details
Ended
Token
ICHN
Type
Utility
Price in ICO
67.2660 USD
Country
British Virgin Islands
Whitelist/KYC
None
ICO start
17th May 2018
ICO end
15th Jan 2019
More on ICO
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About Team Milestones Financial Ratings White paper

Ratings

All ratings published on ICObench serve informational purposes only. ICObench does not provide investment forecast, recommendations or any consulting for that matter. Thus, neither ICObench, nor the experts can be hold responsible for the visitors’ investment decisions. Read more
Paresh Masani
ICO Consultant | Influencer | Strategy and Vision Execution | Public Relations | Crypto-funds | Blockchain Development Lead
Rated on Jul 10, 2018
Modified on Jul 15, 2018
4
4
4
8%

[Update] Thanks for clearing my questions - I agree that Insurance is one of the biggest market size and community will need such solutions. I am still little sceptical about huge hard-cap but will update my ratings further if team progresses well as there is about an year to go for ICO.

+5Agree
+5
Disagree
Report
Nikolay Shkilev
PhD | Entrepreneur | CEO | ICO Advisor | Crypto enthusiast | Blockchain expert | Public speaker | Mentor
Rated on Jul 8, 2018
3
3
3
8%

Need improve a team with strong international experts.
Many questions to idea and realization.
The same questions to the product.
I don't believe that it will works in my humble opinion.
We'll see

+2Agree
-2
-4Disagree
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Sergey ChekriyICO team member replied on 12 Jul 2018
If there are many questions, let's list them and discuss.
Humble opinion in any case should have minimum justification :-))
Juan Pablo Fernandez Aguero
Advisor | Partnerships and Exchanges | Pr and Marketing Expert
Rated on Jul 21, 2018
Modified on Aug 6, 2018
2
1
1
7%

Team ★★
Vision ★
Product ★

There is no future on this project at all.
The idea is so complicated and the ROI is based on a bad idea.
The softcap is giant, It is one of the first problem that anyone investor can see.
The insurance industry is massive, powerful and has unlimited funds. I dont know how i-chain could fight and win against them.

+7Agree
+4
-3Disagree
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Vasiliy RybakovICO team member replied on 23 Aug 2018
and still we are moving in planned direction)) how you can place this marks without even checking progress?)) not professional )) and zero efforts to provide 'expertise')).
First product on the platform - insurance of our own ICO is already available:
check - https://guarantee.i-chain.net/
it is both guarantee of investments into our token and ability to check that platform is already working
another products in development and will be available aready by end of the year
Mohit Tater
Blockchain & ICO Advisor, Investor, Serial Entrepreneur
Rated on Jul 5, 2018
Modified on Jul 17, 2018
4
4
4
7%

The idea looks good on paper but lets see how the team will be able to execute it. The team does look solid though and I believe they should be able to get it to fruition. Good thing is that they have a MVP.

+6Agree
+5
-1Disagree
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Nozomu Nakazato
ICO consultant
Rated on Jul 5, 2018
4
3
3
7%

This team is experienced and already has MVP.
However, the field of insurance using block chains is becoming a fierce battle zone.
Do you have clear and intense differentiation?
Also, why do we need huge funding to this extent?
I am anxious about this point.

+5Agree
+1
-4Disagree
Report
Sergey ChekriyICO team member replied on 12 Jul 2018
We built platform which will allow anyone quickly create own insurance product and act as insurance company, platform will cover not only IT/business processes/sales but legal/licensing needs. And most %% of budget is needed for that (legal/licensing). If we analyze budget to setup insurance company, we will see that licensing is 80-90% of it.
Based on insurance industry size (4 trnl/yearly), 500K ETH is not huge amount in view of such platform setup. Even if we say that platform will occupy 1% of insurance market - 2 bln/yearly, the budget to setup it will look moderate.
Gaurav Areng Chakraverti
Entrepreneur, Marketing Advisor, ICO Advisor
Rated on Jul 16, 2018
3
2
2
6%

The team seems all right, really. Would be helpful seeing some folks with a little more global experience or relevant weight in the industry to build trust in order to take on funds to attempt a project this large. Also, is Financial Director the same in this case as a CFO? Because, if you're asking for a minimum of 100,000 ETH, one needs to know who in the grander scheme of things is going to have control of the purse strings.

The vision seems a little convoluted in my opinion. The whitepaper is definitely lacking, leaving more questions than answers. The first 15 pages of a 30+ page whitepaper start off explaining blockchain and how blockchain works - which is all great in theory, but does nothing to explain why i-Chain is supposed to be leveraging this technology for the better.

The product, it doesn't quite get to where it needs to be. I feel there's a lot more room for improvement, and that may be needed to try and fulfill this vision. And at this price, selling only 35% of the inventory in order to achieve this target is a little optimistic. Although, with this I could be proven wrong. The demo is interesting at first glance. Would be interested in seeing it develop further of course.

My primary concerns are a lack of tangible information here and justification for the hard cap - or even the soft cap for that matter at this stage.

Agree
-5
-5Disagree
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Vasiliy RybakovICO team member replied on 17 Jul 2018
Hi! thank you for comments!
Right CFO is the same as Financial director and she had very good experience with large-scale international projects.
I am Head of Glass Cube Ltd and entrepreneur myself, I was developing pharma sales, luxury brands and financial projects in few countries.
Yuriy as CEO of i-chain project has experience in international pharma companies and huge local russian busiess (start from 1bln USD) on top sales and marketing positions.
Sergey as CTO has worked in few international companies on top IT positions. And also has experience in fintech on top positions.
Yes we decided to provide some introduction in blockchain in general for investors in whitepaper.
What i-chain can bring we actually (and why it blockchain is used) - there is outlook in Table 1: pages 9-10 of whitepaper.
Whitepaper is more concentrate on our solution architecture of solution.
The more compressed outlook for investors specifically you can find in Prospect:
https://i-chain.net/i-chain_tokens_prospect.pdf

Product - we build insurance platform. Which will allow new players (even individuals) provide insurance/gurantee and related services.
The shortest time to get the ideas is to view our video :https://www.youtube.com/watch?v=usVx8KNqLdI&t=5s
That's why the cost. For many products you will be able to start on platform you will need insurance license, cost of it will depend from country to country. This will require costs (significant). That's why there is some gap from 100K ETH to 500K ETH, 100K ETH it is platfrom but with only basic licensing coverage. 500K ETH will ensure full licensing coverage.

Good news - in Q4 2018 first products will be available on platform. I.e. you will be able to start own insurance business with few products if you have utility token already in few months. And this is covered by investments already. We decided to make our ICO continue for a year for a reason. It is not easy for people to get our idea before they will see real products. Hopefully it will change soon. Currently, those who already invest will not lose, as I believe.
Taking into account that size of market we are penetrating is 4+ trln USD, even 1% of this market is 2 bln USD.
More details can be found here:
https://i-chain.net/i-chain_tokens_prospect.pdf
Christopher Zenios
COO | CMO | Speaker | Blockchain | ICO Specialist | Consultant | Advisor | Writer | Project Developer| Investor
Rated on Jul 12, 2018
Modified on Jul 13, 2018
5
4
4
6%

There’s a few things I’d like to point out. There is KYC but in my humble opinion the team needs more experience.
Also, there is MVP already which is positive but when I access it, it gives a warning upon connectivity.
Furthermore, I want to know why your Caps are so large or are you ok with a lower cap?


Finally, I would appreciate if a team member responds to this message so I can see your activeness on ICO Bench?


----

Further to your reply I have updated my rating since the team has proven that they can code/develop. I still believe that you should reduce the hard cap, also provide higher percentage to the contributors.

+7Agree
+7
Disagree
Report
John Papadopoulos
Crypto-currency enthusiast, Miner, ICO analyst, Angel investor, ICO investor,Strategist
Rated on Jul 16, 2018
Modified on Jul 31, 2018
2
1
2
6%

That is another insurance project.... And it is no different than the others. I know that it has MVP but let me ask the key question. What this project will do to succeed where the others failed? Will it be so radical that it will disrupt insurance industry? I am waiting...

Agree
-5
-5Disagree
Report
Vasiliy RybakovICO team member replied on 2 Aug 2018
We build insurance platform. Which will allow new players (even individuals) provide insurance/gurantee and related services.
The shortest time to get the ideas is to view our video :https://www.youtube.com/watch?v=usVx8KNqLdI&t=5s
That's why the cost. For many products you will be able to start on platform you will need insurance license, cost of it will depend from country to country. This will require costs (significant). That's why there is some gap from 100K ETH to 500K ETH, 100K ETH it is platfrom but with only basic licensing coverage. 500K ETH will ensure full licensing coverage.

Good news - in Q4 2018 first products will be available on platform. I.e. you will be able to start own insurance business with few products if you have utility token already in few months. And this is covered by investments already. We decided to make our ICO continue for a year for a reason. It is not easy for people to get our idea before they will see real products. Hopefully it will change soon. Currently, those who already invest will not lose, as I believe.
Taking into account that size of market we are penetrating is 4+ trln USD, even 1% of this market is 2 bln USD.
More details can be found here:
https://i-chain.net/i-chain_tokens_prospect.pdf
Alexander Mitrovich
Managing Partner, Usetech.com
Rated on Jul 4, 2018
3
3
4
5%

Very ambitious project that will have hard time delivering on its business development. 100k ETH soft cap is 2 orders of magnitude too much for crowdfunding. Team does not have global presence that the project of this scale requires. Idea is good, but proposed approach and scale look too risky for me, as I prefer to see success on several fronts (MVP demo is good, but what about actual market traction?). There are those that think big right away, this project is for them if they believe in the team and vision.

Agree
-4
-4Disagree
Report
Sergey ChekriyICO team member replied on 12 Jul 2018
most of the money it is not IT product development cost. Insurance industry is highly regulated and to setup universal platform within this industry will require high licensing costs.
And costs for initial risk pools. Based on that understanding budget requirements will not look high actually..
Timothy Mayeur
Ecom Activator | ICO Advisor
Rated on Jul 8, 2018
2
3
2
5%

No ICO KYC and raising 500K ETH with soft cap 100K ETH? That's only 33% Token Allocation!!.. Really?! Vision is big, I'll give them that but it requires a lot to pull this off. Need bigger international representation, insights and a very solid go to market & roll-out plan. Looks like this project is backed by member of United Russia Party (Russian Gov't).

Agree
-4
-4Disagree
Report
Sergey ChekriyICO team member replied on 12 Jul 2018
Unfortunately Russian government (and almost any government) is very conservative and do not fund blockchain projects :-)). So we are funded by private investor, not a secret, see our site.
In near future new private investors will join.
We built platform which will allow anyone quickly create own insurance product and act as insurance company, platform will cover not only IT/business processes/sales but legal/licensing needs. And most %% of budget is needed for that (legal/licensing). If we analyze budget to setup insurance company, we will see that licensing is 80-90% of it.
Based on insurance industry size (4 trnl/yearly), 500K ETH is not huge amount in view of such platform setup. Even if we say that platform will occupy 1% of insurance market - 2 bln/yearly, the budget to setup it will look moderate.
Ismail Malik
ICOCROWD Editor-in-Chief - Blockchain + Strategic ICO Advisory
Rated on Jul 10, 2018
2
3
1
4%

When i'm trying to check up the demo MVP version by link it's sends me to a subdomain with invalid SSL certificate, so i give fair 1 for Product. There is no any team member from Blockchain industry and advisors list is empty. The idea is not bad but ... hardcap in 500k Ethers? It fails the approach.

Agree
-4
-4Disagree
Report
Sergey ChekriyICO team member replied on 12 Jul 2018
it is demo where you can feel architecture with built-in BPM etc, work from customer side and from manager side, try it now, probably certificate was not renewed.. now should be ok.
What is good, that in September-October I expect, that we will start first real product on platform.
And it will be not just insurance product, but based on platform philosophy if you have utility token you will be able to setup your version of product and provide it to your customers.
Sun (Kevin) Kim
Blockchain Research Analyst
Rated on Dec 12, 2018
3
2
2
4%

Insurance is a great industry for disruption with blockchain, but there is 1000 other blockchain projects tacking the same industry - hard to stand out with such over saturation.

The hardcap is also too high for today's standards

Agree
0
Disagree
Report
Suraj Tiwari
ICO ADVISOR CONSULTING EXCHANGES Listing SMART CONTRACT TOKEN CODE
Rated on Jul 11, 2018
5
5
4
4%

Team : Team is good and diverse in different fields checked few comments that they are not verified but they are as informed by icobench.

Vision : Vision is awesome too as unlike other insurance icos they will provide blockchain as service like other BAAS.

Product : checked the product and videos they could have been better

+5Agree
+5
Disagree
Report
Zi Shuen Wong
President of Nanyang Blockchain Association | Founder of MR ICO | ICO Researcher and Analyst
Rated on Jul 15, 2018
Modified on Jul 15, 2018
1
2
1
3%

0.1ETH per token?
100,000 ETH = 45 Million Soft Cap?
500,000 ETH = 200 Million Hardcap?
A difference of 150 Million????
ICO run for 1 year?????
Such a badly built website
What a 'face palm' team

Why the f*** do you need 200 Million?????!!!!!!!!!

What a moneygrab, what a scam, what's wrong with the ICO space?

This s*** leave me speechless.

Good luck.

Agree
-4
-4Disagree
Report
Sergey ChekriyICO team member replied on 16 Jul 2018
We built platform which will allow anyone quickly create own insurance product and act as insurance company, platform will cover not only IT/business processes/sales but legal/licensing needs. And most %% of budget is needed for that (legal/licensing). If we analyze budget to setup insurance company, we will see that licensing is 80-90% of it.
Based on insurance industry size (4 trnl/yearly), 500K ETH is not huge amount in view of such platform setup. Even if we say that platform will occupy 1% of insurance market - 2 bln/yearly, the budget to setup it will look moderate.
First product will be in Q4 2018.
Harry Tucker
Business Manager - HiveEx
Rated on Jul 16, 2018
3
1
3
2%

The copy itself barely makes sense. I genuinely am not really sure what they're trying to do, and if the founding team can't explain to you what they're trying to do, that's never a good sign.

Agree
-4
-4Disagree
Report
Sergey ChekriyICO team member replied on 16 Jul 2018
We built platform which will allow anyone quickly create own insurance product and act as insurance company, platform will cover not only IT/business processes/sales but legal/licensing needs.
First products on the platform will be in Q4 2018.
you can read whitepaper: https://i-chain.net/i-chain.net.wpaper_rev_005.pdf
or prospect (shorter): https://i-chain.net/i-chain_tokens_prospect.pdf
Benchy
ICO analyzer bot
4.6
18%

Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.

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